Catena Media launches cost reduction programme in wake of recent divestments
Catena Media has today initiated a cost reduction programme of EUR 3.8-4.2 million to optimise group operations following the sale of the group’s UK and Australian brands. The annual cost reductions announced today are in addition to the EUR 2.8 million decrease in the annual cost base directly attributable to the UK-Australia divestment, which was announced on 3 August 2023. The cost reduction programme reflects the operational impact of the UK and Australian divestments, implemented as part of the strategic review announced in May 2022. This has further reduced the number of markets